Warner Music Group agreed to buy EMI Group’s Parlophone Label Group, home to Coldplay, the Pet Shop Boys and Tina Turner, from Universal Music Group for $764 million.

“Following this transaction, we will continue with our global reinvestment program that is rebuilding EMI,” Lucian Grainge, chief executive officer of New York-based UMG, said in a statement.

Vivendi SA-owned UMG, the world’s biggest record company, has been selling EMI assets to meet antitrust requirements after receiving approval from the European Commission in September for its 1.2 billion-pound acquisition of EMI from Citigroup.

In December, UMG agreed to sell the Mute label to BMG Rights Management.

For the Parlophone deal, Goldman Sachs Group and Bank of America Merrill Lynch provided financial advice to UMG and Vivendi, while SJ Berwin, Shearman & Sterling and Smiths Law gave legal advice, according to the statement. LionTree and Credit Suisse advised Warner Music.